DealQuest Podcast with Corey Kupfer

Standing in an airport after a meeting with a for sale by owner founder, Emily Blue called her colleague Ryan Halls to vent. When he asked which investment bank she planned to join, she realized there wasn't one she would put her name behind at every step of the process for wealth management founders. That moment led to Hue Partners. Emily Blue, CFA, is the co-founder of Hue Partners, an M&A advisory firm that guides wealth management founders through the sale of their businesses. She previously served as Head of Corporate Development at a national multi-family office and led valuation and negotiation efforts at one of the largest aggregators in the industry. WHAT YOU'LL LEARN: In this episode, Corey Kupfer and Emily explore the human side of RIA M&A, from the emotional shift founders face after a sale to the build or sell decision. They discuss why the RIA M&A cycle is still in its early innings despite headlines about lower deal counts, and why next gen talent is now central to deal value in wealth management. EMILY'S JOURNEY: Emily went to college to become a nurse, until an anatomy course showed her that path wasn't for her. Her first taste of M&A came at an asset manager that diversified beyond midstream energy through an acquisition, where she helped integrate the portfolio teams and educate the sales force on new products. That integration work shaped how she approaches deals today. After years on the buy side working with investment banks across the country, she and Ryan launched Hue Partners, a sell-side firm that works every engagement together and focuses on doing a lot for a very select few. KEY INSIGHTS: Culture and vision alignment matter as much as structure. "The money can be there, the deal can be the best structure you've ever seen," Emily said, "but if you're not gonna have fun with the people or you guys aren't aligned philosophically or from a vision perspective, it will be a rough road." Founders need to be ready to stop being the king or queen. Even with a phenomenal acquirer, emotions will come up that sellers can't anticipate at the start. As Emily put it, "even advisors need advisors." The blank sheet of paper exercise reveals the gap. Emily asks founders to draw their ideal day, then look back at the past month of their calendar for a day that matched it. Most are shell-shocked by what they find. Build or sell is a real choice. Founders don't have to sell to reclaim their time, but something has to change, whether that means investing in hires and technology or finding the right partner. M&A in a service business is a talent strategy. Emily noted that outreach to next gen advisors is "through the roof," and urged founders not to wait to take care of their people until they've reached their breaking point. Perfect for RIA founders weighing whether to build or sell, acquirers building their M&A programs, and next gen advisors thinking about their future.WANT TO BE A GUEST ON DEALQUEST?Apply here: https://beaguestondealquest.com/guest FOR MORE ON THIS EPISODE:https://www.coreykupfer.com/blog/emilyblue FOR MORE ON EMILY BLUE:https://www.linkedin.com/in/emilyblue-cfa/https://huepartners.com/ FOR MORE ON COREY KUPFERhttps://www.linkedin.com/in/coreykupfer/https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps [00:03:23] Emily's first deal and how integration work became her entry into M&A [00:10:26] Are you truly ready not to be the king or the queen anymore? [00:14:55] The blank sheet of paper exercise and the ideal day [00:24:03] The airport phone call that led to Hue Partners [00:38:10] Why the RIA M&A cycle is still in its early innings [00:50:12] Next gen talent and why M&A is a talent acquisition strategy Guest Bio Emily Blue, CFA, is the co-founder of Hue Partners, an M&A advisory firm that specializes in guiding wealth management founders through the sale of their businesses. Prior to establishing Hue, she served as Head of Corporate Development at a national multi-family office and led valuation and negotiation efforts at one of the largest aggregators in the industry. Emily lives with her husband, Harrison, and their four children, and serves as a board member for Girl Scouts of NE KS and NW MO and Big Brothers Big Sisters of Kansas City. Keywords/Tags Emily Blue, Hue Partners, RIA M&A, wealth management M&A, sell-side M&A advisory, next gen talent, succession planning, build or sell, M&A integration, founder transition, DealQuest Podcast, Corey Kupfer

There is more capital in private markets than most dealmakers have ever seen, and much of it has nowhere obvious to exit. In this second quarterly deals roundtable, Corey Kupfer sits down with his partners Brian Meegan and Sara Mostafa to break down what actually happened across the deal world in Q2 2026. Brian and Sara are Corey's partners on the deal side of the practice, working alongside him across mergers and acquisitions, capital raises, and complex negotiated transactions in wealth management and well beyond. WHAT YOU'LL LEARN: How record dry powder, a slowing IPO market, and the rise of continuation funds are reshaping exits, why cash at closing keeps giving way to earnouts and rollover equity, what is driving longer holds and stretched diligence timelines, what minority investors actually control, and why one founder near 450 million dollars in revenue decided not to go public. THE ROUNDTABLE'S JOURNEY: The conversation opens on the macro picture Corey brought back from the Echelon Deals and Dealmakers Summit, then moves through hard data on the collapse in private equity backed IPOs and the record surge of lower middle market deals coming to market. From there it turns human, with Brian's deal in history on the founding of US Steel, Sara's debut segment on remarkable women in business, and Corey's closing reflection on choosing a path that fits your values rather than the default one. KEY INSIGHTS: Private equity backed IPOs fell from 424 between 2017 and 2021 to 70 between 2022 and the present, according to Dealogic, and that narrowing exit window is a major reason so much capital is stuck in private markets. As dollars move down market, the lower middle market benefits. Axial reported a record 3,523 deals coming to market in Q2 2026, up roughly 4.79 percent over the same quarter last year. Longer holds are now the norm. A New York Times report put private equity's unsold portfolio companies at 33,575 as of June 30, up from about 32,500 a year earlier and roughly 15,923 a decade ago. Taking a minority investment does not mean keeping full control. Board seats, veto rights, tag along rights, and priority rights all come into play, a point Sara raised in a Family Wealth Report quote. In Echelon's post closing survey, the top reason sellers felt their expectations fell short, at 40 percent, was not deal economics or equity performance. It was autonomy and workload. Perfect for founders, business owners, and investors weighing whether, when, and how to do their next deal.WANT TO BE A GUEST ON DEALQUEST?Apply here: https://beaguestondealquest.com/guest FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/brianmeegansaramostafa FOR MORE ON KUPFER.https://www.kupferlaw.com FOR MORE ON COREY KUPFERhttps://www.linkedin.com/in/coreykupfer/https://www.coreykupfer.com/Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps 00:02 Opening the quarterly roundtable, continuation funds, dry powder, and a slowing IPO market09:15 Sara Mostafa on risk shifting to sellers through earnouts and rollover equity11:12 Brian Meegan on the collapse in private equity backed IPOs, 424 down to 7019:26 The New York Times data, 33,575 unsold private equity portfolio companies28:34 Deal in history, how a single dinner led to the founding of US Steel44:18 Remarkable women in business, the story of Estée Lauder52:37 A founder who chose not to go public, and why it mattered Guest Bio Brian Meegan has represented US and multinational clients on corporate matters for more than 25 years, primarily on M&A, business formation, contract negotiation, and real estate. Before joining Kupfer, he founded Evergent Law, listed in Best Law Firms in America (Colorado) for Corporate Law and the exclusive Colorado M&A firm in the IR Global network, and he separately founded Watson Ltd., a back-office support company serving law firms nationwide. Brian earned his B.S. and J.D. from the University of Colorado, is listed in Best Lawyers in America (Colorado), and is a self-described history nerd who powers the new Deals in History segment on the show. Sara Mostafa is a corporate attorney with nearly two decades of experience representing private companies and individuals across M&A, private equity, financing, corporate governance, employment, real estate, and outside general counsel work, with clients spanning technology, wealth management, retail, entertainment, construction, restaurants, medical practices, and fitness and nutrition. She began her practice at Cooley LLP in San Diego and later served as a Partner at Lobb & Plewe LLP before joining Kupfer. Sara earned her J.D. from UCLA School of Law and her B.A. magna cum laude from the University of Pennsylvania, completed Harvard Law School's Executive Education program in M&A in 2023, and is licensed in California and Hawaii. She speaks English, Spanish, Arabic, and French Related Episodes Episode 293, Sunny Vanderbeck, on selling without selling out and building deals aligned with your values. Episode 325, Kelly Finnell, on employee stock ownership plans and internal succession as an alternative exit path. Keywords/Tags DealQuest, quarterly roundtable, private equity, dry powder, continuation funds, IPO market, lower middle market, mergers and acquisitions, earnouts, rollover equity, minority investment, board seats, tag along rights, seller satisfaction, US Steel, Andrew Carnegie, J.P. Morgan, Estée Lauder, women in business, exit planning, capital raising, negotiation, Corey Kupfer, Brian Meegan, Sara Mostafa

In her first 90 days running corporate development for a venture-backed acquirer, Hannah Sandmeyer closed sixty million dollars in EBITDA. The company had raised a billion dollars in a single Series D and its whole model was growth by acquisition. Then it collapsed when the promised IPO never came. That experience showed her how powerful M&A can be, and it set up the question behind everything she does now, which is what that power looks like when it serves something other than speed and price. Hannah is the founder and CEO of Up and Over Advisors, the first certified B Corporation in the world dedicated exclusively to values-aligned M&A sourcing, and the founder of Steward Market, a live three-sided marketplace for ethical business transitions. She also co-hosts the Ethical Exits podcast. WHAT YOU'LL LEARN: Why mission-driven founders belong on the buy side and not only the sell side, how shared values and trust can change a deal's structure and open the door to seller financing, how employee ownership and acquisition can work together, and how Steward Market uses values as searchable infrastructure so sellers can find a buyer by mission and hold period rather than valuation alone. HANNAH'S JOURNEY: Hannah grew up in Boise, Idaho, wanting to be a civil rights lawyer for the ACLU, studied political science, and came to see M&A as social and economic justice work because an ownership transition is a redistribution of power. She spent about 18 years in go-to-market and revenue roles before being asked in 2021 to run a corporate development team, where she learned that buying a company is just a different kind of sale. After that acquirer collapsed, she started her own firm expecting to do fractional sales work for B Corps. Instead, founders kept asking her to help them buy companies, and fractional corporate development was born. When she suggested that mission-driven founders could be acquirers too, they recoiled, which led her and her partner to launch Ethical Exits to explore what mission-driven M&A actually looks like. KEY INSIGHTS: Once you see the power of inorganic growth, you cannot unsee it as a lever. The real question is not whether acquisition is good or bad, but what you point it at. Values are a real deal variable. When a buyer and seller genuinely share goals and build trust, sellers become more open to seller financing and less fixated on all cash or the highest multiple. Employee ownership and acquisition can reinforce each other. Hannah points to a social work company that converted to an ESOP, acquired other firms, and began cutting checks north of a million dollars to retiring social workers. An ethical exit is not a partisan idea. Yvon Chouinard put Patagonia's purpose into a trust, and Eddie Smith turned down offers north of four hundred million dollars for Grady White because, as he put it, the company has a soul. The two men likely sit at opposite ends of the political spectrum. Real freedom is reciprocal. Wealth and ownership expand a person's power to make consequential decisions, and for Hannah that increases obligation rather than removing it. Perfect for founders weighing a sale, would-be buyers who assume the buy side is not for them, and advisors who want the deals they work on to protect more than price.WANT TO BE A GUEST ON DEALQUEST?Apply here: https://beaguestondealquest.com/guest FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/hannahsandmeyer FOR MORE ON HANNAH SANDMEYER: Website: https://stewardmarket.com LinkedIn: https://www.linkedin.com/in/hannahsandmeyer Podcast: Ethical Exits, https://ethicalexits.com FOR MORE ON COREY KUPFER: https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps [00:02] - Introduction to Hannah Sandmeyer and the intersection of M&A and mission  [05:44] - Hannah's first capital raise in fifth grade with a chess team coupon drive [12:06] - Landing in corporate development in 2021 and a billion-dollar growth-by-acquisition model[16:30] - Starting her own firm and the birth of fractional corporate development [27:32] - Patagonia and Grady White as models of the ethical exit [38:03] - The Three Legged Stool employee ownership and acquisition story [46:07] - How Steward Market works as a three-sided marketplace [01:01:11] - What freedom means to Hannah Guest Bio Hannah Sandmeyer is the founder and CEO of Up and Over Advisors, the first certified B Corporation in the world dedicated exclusively to values-aligned M&A sourcing, and the founder of Steward Market, a live marketplace for ethical business transitions. She also co-hosts Ethical Exits, a podcast exploring how ownership transitions can protect mission, workers, culture, and community. A former Peace Corps volunteer turned M&A operator, Hannah works at the intersection of ownership, capital, and moral courage. Based in Portland, Oregon, she is an avid cyclist raising a preteen and a chicken named Greta who believes she is a dog. Related Episodes Episode 325 - Kelly Finnell: How Employee Stock Ownership Plans Actually Work. A deep look at ESOPs as an exit and succession tool, and how employees become owners. Episode 293 - Sunny Vanderbeck: Building and Selling a Company Without Treating Profit and Purpose as Enemies. Conscious capitalism and value creation over short-term profit. Episode 366 - Jodi Hume: Founder Exits and the Emotional Journey Behind Major Business Decisions. The psychological weight of selling and what founders need to prepare for beyond the transaction. Keywords/Tags ethical exits, values-aligned M&A, B Corp, employee ownership, ESOP, stewardship ownership, mission-driven acquisitions, seller financing, deal structure, Steward Market, Up and Over Advisors, three-sided marketplace, buy side, legacy preservation, mission continuity, conscious capitalism

When George Dubec and his wife sold the largest singles network in South Florida in the early nineties, the buyer was another matchmaking firm looking to expand into events. What they were actually paying for was the database. "They couldn't replicate me and my wife as the face of the business," George says. Nearly forty years later, that lesson still drives how he advises business owners. George Dubec is considered one of the top business and social networking experts in the United States. He began his career as an engineer, rising to executive staff at Packard Electric, a division of General Motors, before moving to Florida in 1985 to build companies of his own. He has hosted radio and TV programs including the Internet Business Hour, has judged the Web Awards since 2006, and now serves on the advisory board of America's Real Deal, a business investment television show. WHAT YOU'LL LEARN: How business owners can access capital outside the standard fundraising path, including tax credits, tax refunds, and legal settlements that already belong to them. Why a customer database may be the most saleable asset a company owns. How fractional deals, crowdfunding platforms, and crypto-based sweeteners are reshaping who can invest and who can raise. And why a two to five minute pitch video now opens more investor doors than a polished deck. GEORGE'S JOURNEY: George grew up in Boardman, Ohio, in a town he compares to Happy Days, where he saw the first television set in the neighborhood and the phones were still party lines. He was the first person in his family to graduate from college, attending Youngstown State University. He spent roughly eighteen years at General Motors as an engineer before buying his job out and relocating to South Florida in 1985. With his wife he built the largest singles network in South Florida, running it from 1985 until about 1992, before online dating existed. After selling, he moved into the early web with a company called Webstream, hosting sites, then building them, then adding search engine optimization. He launched the Internet Business Hour radio show in 1998 and ran it for about twelve years. He technically retired from the company in 2010 and shifted into alternative funding work with business owners. KEY INSIGHTS: Data is the asset owners undervalue. The buyer of George's first company wanted the list, not the events. He now maintains a database of forty thousand clean email addresses and tells owners to build one, because it can generate revenue long before an exit and may be what a buyer is actually purchasing at the exit. There is money most owners never look for. George describes himself as an alternative funder, helping business owners recover capital through tax reimbursements, tax credits, tax refunds, and legal settlements. As he puts it, going out with a pitch deck and asking for money is really tough, and most owners stop at the one channel they already know. Widened access comes with a vetting problem. Alternative investments were once closed to all but the wealthy. Opening them up has real benefits, but George is candid that many of these platforms have two or three years of history and no track record to evaluate. "It's kind of like the wild frontier. It's like digging for gold." The pitch video is the new front door. Investors are buried in decks and one-pagers they do not have time to read. George recommends a two to five minute video of you and your principals as the thing that earns the deck a read. What investors are assessing in those minutes is whether the person pitching has the attitude, moxie, and experience to make it work. Freedom requires a system. Asked what freedom means to him, George argued that eleven superstars who each do their own thing will never win a football game. "You gotta find a system that suits you, that you can be free in the system." Perfect for business owners who have been told that bootstrapping and venture capital are the only two real options for funding growth.WANT TO BE A GUEST ON DEALQUEST?Apply here: https://beaguestondealquest.com/guest FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/georgedubec FOR MORE ON GEORGE DUBEC:  https://theultimatenetworker.com  https://techunfilteredagi.com  https://www.americasrealdeal.com  FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps[02:17] Growing up in a no-tech Ohio town and seeing the neighborhood's first television set[06:36] Eighteen years at General Motors, buying his job out, and starting the largest singles network in South Florida[09:07] Selling the business and why the buyer was really after the database[13:43] Crypto coins as an investor sweetener, fractional deals, and other funding paths outside the usual channels[25:00] The four ways companies get funded on America's Real Deal, from sharks to a private stock exchange[26:23] Why a two to five minute pitch video matters more than the deck[44:27] Freedom inside a system and the football team analogy Guest Bio George Dubec is a business and social networking expert based in South Florida. After roughly eighteen years as an engineer at Packard Electric, a division of General Motors, he moved to Florida in 1985 and co-founded the largest singles network in South Florida with his wife, operating it until the early nineties. He then entered the early web industry with Webstream, working in hosting, web development, and search engine optimization, and launched the Internet Business Hour radio show in 1998, which he hosted for about twelve years. He has judged the Web Awards since 2006. Today he works with business owners on alternative funding sources, serves on the advisory board of the business investment show America's Real Deal, and hosts a new podcast called Tech Unfiltered. He is writing a book titled How to Thrive and Survive in the New High-Tech AI World. Related Episodes Episode 350 with Tom Dillon covers when not to take venture capital money and walks through alternative funding sources including private credit, SBA loans, term loans, and sale-leasebacks. It pairs directly with George's argument that most owners default to one channel and stop. Episode 370 with Gerry Hays examines democratizing access to early-stage investing through very small stakes, which speaks to the same tension George raises between widening access and protecting less experienced investors. Episode 351 is a solocast where Corey explores deal structures beyond mergers, acquisitions, and capital raising, including joint ventures, strategic alliances, and licensing agreements. A useful companion for owners looking to grow without a traditional raise. Keywords/Tags alternative business funding, tax credits for business owners, tax refunds, legal settlements, pitch video for investors, America's Real Deal, crowdfunding, Start Engine, WeFunder, fractional investing, private stock exchange, accredited investors, customer database value, business exit, authority marketing, personal branding, podcasting for business, AI agents, networking, deal-driven growth, DealQuest Podcast, Corey Kupfer, George Dubec

Matt Stevens walked away from his first closing table controlling two duplexes, having put nothing down, holding a check for forty seven hundred dollars. That deal taught him that things he assumed were impossible were actually available to him, and it started a career built on reading structure before reading price. Known as The Franchise Guy, Matt has more than 30 years in the franchise industry and has sat in nearly every seat at the table. He has been a franchisee, a franchise coach, a franchisor, and now a franchise consultant. He was rookie franchisee of the year, turned around struggling divisions, and served as a board member and partner inside a two billion dollar franchise group. WHAT YOU'LL LEARN: How to evaluate a franchise opportunity beyond the investment number, why first rights of refusal have essentially disappeared from franchise agreements, how territory math changes the economics of multi-unit ownership, the behavioral due diligence most candidates never perform on themselves, and where the real growth is happening in franchising right now. MATT'S JOURNEY: Matt got into franchising by reading an advertisement on a hallway wall at Wake Forest University. He joined the business that became CertaPro Painters when there were only 67 operators across Canada, New England, and the Mid-Atlantic. The deal had a zero dollar investment to get in and a 25 percent royalty on the back end, a trade both sides made deliberately. He spent about ten years in that system, moving from operator to coach to the franchisor side. Before franchising, Matt spent nearly two decades in rental property, building to 14 units before selling his last property in 2017. Over one six year stretch in franchising, he found, recruited, signed, trained, and mentored 167 franchise owners across nine states in a single system. Today he helps candidates cut through franchise marketing using non-public research on franchisors, their development teams, and their existing owners. KEY INSIGHTS: Every piece of human behavior is driven by inputs and outcomes rather than rationale or common sense. Matt was frustrated by several franchisor decisions when he was an owner. Once he became a franchisor, those same decisions made complete sense. His advice to candidates is to assume every rule exists for a reason and to ask why. First rights of refusal on territory used to be common in franchising and are now essentially gone. Matt's read is that the only reason a franchisor offers one today is that they are desperate to sign that candidate. What replaced it is a growth schedule tied to what an operator can realistically execute. Territory secured early is what Matt calls growth insurance. One territory costs X, three cost roughly 1.6X, and five cost roughly 2.2X, and six territories can be serviced with the same phone number and van as one. In fast moving markets, what is available today will not be available later. The hardest due diligence is the kind candidates perform on themselves. Investment and territory are confirmable. What is not confirmable is whether a person will replicate the daily behavioral patterns the system requires. One of Matt's screening questions is how long a candidate can go at zero income before hitting the panic button. The least appreciated opportunity in franchising is the mundane service business. Matt's framing is that in a market with 400 competitors within 30 miles, you are not competing against 400 companies. You are competing against the two others the customer called. That is how he became the largest buyer at his Sherwin Williams store in Keene, New Hampshire by May of his first year in the painting business at age 20. Perfect for anyone weighing franchise ownership, operators planning multi-unit growth, and dealmakers who want to see how structure and price get traded against each other in a real agreement.WANT TO BE A GUEST ON DEALQUEST?Apply here: https://beaguestondealquest.com/guest FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/mattstevens FOR MORE ON MATT STEVENS: https://heisthefranchiseguy.com  https://podcast.heisthefranchiseguy.com/DQ FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps [03:26] - The first deal, two duplexes controlled with nothing down and a check at closing [14:14] - Why first rights of refusal disappeared and what it means when one is offered [21:14] - The behavioral due diligence candidates skip and the four Ds [31:43] - What separates successful franchisees, including the ABS framework[47:44] - What freedom means to Matt Guest Bio Matt Stevens, known as The Franchise Guy, is a franchise consultant with more than 30 years in the industry. He has been a franchisee, a franchise coach, a franchisor, and a franchise consultant, and was named rookie franchisee of the year early in his career. He has turned around struggling divisions and served as a board member and partner inside a two billion dollar franchise group. Matt is a franchise gold and century club member, a Business First Columbus 40 under 40 honoree, and the author of a three hour course on thorough franchise review. He holds three business degrees from Florida Southern College and Wake Forest University and is a MENSA member. His process walks candidates from first conversation to confident decision using real world validation, insider questions, and practical coaching. Related Episodes Episode 329 - Cliff Nonnenmacher on master franchising and who is not a fit for the franchise model. A useful companion for understanding the layers of ownership between single unit franchisee and franchisor. Episode 333 - Greg Mohr on franchise agreements, protected territories, and how franchisors identify their ideal franchisee. Pairs directly with Matt's discussion of what franchisors assess in candidates. Episode 330 - Pete Mohr on owning and exiting multiple franchise businesses, including buying himself out of an agreement that was not working. Offers the operator's view of what happens when the fit turns out to be wrong. Episode 336 - Devan Gonzalez on building an emerging fitness franchise from the franchisor side, which connects to Matt's read on growth in health and wellness. Keywords/Tags franchise consulting, buying a franchise, franchise due diligence, franchisee validation, franchise territory rights, first right of refusal, right of first offer, franchise royalty structure, multi-unit franchising, home services franchise, health and wellness franchise, deal structure, business ownership, entrepreneurship, DealQuest Podcast, Corey Kupfer, Matt Stevens, The Franchise Guy